Here is a List of Some of the Most Common Questions We Get Asked

What is your experience and qualifications for property management?
I earned my Flor ida salesman’s real estate license in 1980 and my broker ‘s license in 1986. I have been managing property in SWFL for over 15 years, first with Bluebill Properties where I was Broker in charge of over 400 properties. In Florida you must be a licensed real estate broker to operate your own company. I then opened my own company in Naples. During this time I have managed hundreds of properties. Since I am a Broker, I also assist my owners to acquire and sell properties. As a licensed real estate professional I am also very active in our local realtors’ organization NABOR (Naples Area Board of Realtors). I have been honored to serve on numerous committees there and was selected to be a member of the Leadership Class of 2014. Last year I served as the Vice-Chair of the Leadership Development Committee. Since I am an active member of NABOR , it gives me the
opportunity to network and associate with over 6,000 professionals in real estate in SWFA. This membership enables me connect with the business leaders in our area and helps me to better serve my clients.
What procedures do you follow in renting a property?
First, I search the logical renters of the property and make them aware it is available. We accomplish this by traditional advertising, the internet, property signage and contacting clients from past rentals. Everyday we receive numerous calls from previous tenants and from their referrals to us. Since we have always treated our tenants with respect and honesty, they readily refer to us. Another very powerful tool is our realtor multiple listing service (MLS). There are over 6,000 active agents in our area alone and we like to reach out to them when we have available rental properties . Although most of them don’t actually do rentals, they often have clients who ask for property manager referrals. We are glad when they choose to refer us.

 

Then, we show the property to the prospective tenant and if they have interest in the property, begin qualifying them. We perform a full credit, criminal and background check on each tenant over the age of 18 years old to determine their past history and to determine if they would make a good tenant. We must always have the answers to these questions; Can they pay the rent? WILL they pay the rent based on their past history? Will they take care of the property? Will they get along with their neighbors? Will they let us know if there is a maintenance issue that needs to be addressed? incidentally, the prospective tenant pays for these reports so there is no cost to our owners.

 

If an owner wants to be included in the decision making process, I then notify the owner with the results to determine if they want to rent to them. A number of our owners will not want to be involved in this decision-making process. Since different people have different management styles, either option is fine with us.

What lease is used and what is your move-in procedure?
When a renter is selected, we require them to sign an attorney-prepared lease. This lease protects both the tenant and the owner by making sure everyone understands what is expected of them.

 

Before a tenant is allowed to move into a property, we obtain the first month’s rent and a suitable Security Deposit, usually the same amount as the rent. Often we will require a first month, a last month, and a security deposit, depending on the market and the wishes of the owner. We do require these funds to be in the form of a money order or a cashier’s check. Afterwards, we do accept personal checks or cash.

 

Before the tenant moves into the property, we will perform a MOVE-IN report. We make note of any pre-existing condition if it is less than perfect. We require the tenant to sign and acknowledge the report. This MOVE-IN report can become very important when the tenant moves out. When the tenant moves out we will complete a MOVE-OUT report and then compare them. If there is damage while the tenant occupied the property, this form serves as the basis for a security deposit claim.

How do you deal with rent collections?
Needless to say, rent collections are given the highest priority. Our leases are written such that all rents are due on the 1st of each month, and then the tenant has until the 4th of the month to make payment. After the 4th of the month the rent can be considered late and a late payment may be assessed. We contact the tenant to determine why the payment has not been made. If we are not able to establish a satisfactory response then we will post a 3 DAY NOTICE on the door of the property. This is a very important notice because it forms the legal basis for a possible eviction, should the tenant fail to make payment in the required three day period.
How do you deal with evictions?
However careful we are in the decision-making process, every property owner sooner or later will have to evict a tenant. We do everything possible to avoid an eviction, the most important of which is good tenant screening. Occasionally it is necessary to evict due to a change in the tenant’s circumstances (such as a separation, divorce, loss of a job or other unforeseeable event) to evict. We rarely have to evict and our record with regard to evictions is excellent. When it does occur, we have an attorney who handles the eviction process.
How are owners paid?
We are diligent about collecting the monthly rent due from our tenants on a timely basis. We charge our owners with any maintenance bills that have been incurred. At the middle of each month we will send our owners a check for their net proceeds along with an easy- to- read and understandable statement of their monthly income and expenses. We will make a deposit to the owner’s Florida bank at or around the 15th of the next month. Many of our owners like to have these funds deposited directly into their own bank account for expediency OR we will mail their check and statement at that time. Most of the major US banks are represented here in Naples. We use the owners preprinted deposit slips from their bank so that there is never an error in making the deposits.
How do you handle maintenance issues?
We handle all maintenance issues using the best qualified vendors that we can find in Naples and SWFL. This process has served us and our clients well over the years. Because of our wide contacts with trades’ people here in this area we know who is trustworthy, who is not , who does good work and who does not. We only use the best available. We have contact with plumbers, air conditioning contractors, electr icians, lawn care companies, handymen, etc. One of our decisions each time a maintenance issue arises is what expertise level will be required. This is a very important judgment call. Do you send over a skilled plumber or a handyman? This is where knowing the level of expertise required for the job and the experience of the property manager is important.
What about year-end statements and tax information?
At the end of each year we provide our owners with a complete owner’s statement summary and tax information to give to their accountants.
What should I expect when dealing with Signal Property Management?
You should expect to be dealt with in an honest, competent and courteous manner at all times. I will familiarize myself with each of your properties and their current needs and condition. Since the purpose of any investment is to make a return on your investment , I will endeavor to maximize your profits, keep your expenses to a minimum and to maximize your income.

 

When you have a question, I will be the person responsible for answering it.

What are the fees associated with your property management service?
We charge ½ of the first month’s rent to cover tenant placement and marketing. We charge a flat 10% on all rents received. There is no other charge other than a $40 fee for the lease preparation. This covers the attorneys cost to us.
Can you supply us with references that will substantiate the claims that you make about the quality of your service?
We will be happy to provide references to you upon request.
Are you qualified to sell my investment property for me, or to assist me in finding an additional property?
I have been a qualified Florida real estate Broker since 1986, and my company is qualified to assist you. When you are ready to capture the appreciation from your property, we will provide you with a thorough market search for comparables in order to determine the market value and listing price of your property. After preparing a professional listing and pictures, we market on the local multiple listing service, which then radiates onto numerous internet sites including Trulia, Zillow, Rent.com, Homes.com. Our commercial properties are marketed on our MLS, Loopnet, and other appropriate sites. We have a strong reputation for preparing your property to sell in the shortest period of time, locating a buyer, and providing all seller or buyer services required to reach a successful closing for you.

Have a Question That Isn’t Listed Above? Get in Touch

Latest Posts